When is the best time to buy a house? [2019] скачать в хорошем качестве

When is the best time to buy a house? [2019]

Can you plan to buy a home at the perfect time? Also, what is the perfect time? Hey, what's up, I'm Alyssa, and I'm your writer over at Zolo.ca. Currently, I'm saving and burrowing all of my money away like the fun and fresh financial queen that I am. But why on earth would I ever do that? Well, it's because I want to buy a home. I'm planning to do this in 2020, so I only have about a year until the actual month that I plan on buying a home. My goal is to have $60,000 saved by the new year, and I actually already have a really good start on that goal...That's not why we're here. The reason I have this number chosen is that I want every single base covered, so I'm really set to go when it comes to closing costs, every single [other] part of the home-buying process, [including] furnishing my new place so that I'm not house poor when I move in. I really want to buy a home that's within our budget and doesn't leave us overspending every single month. But I want that home to also have everything that we want. Therefore, over the next 12 months, I'm going to be doing updates on my progress, what I've learned from industry experts and how the entire home buying process [is] going. So if you're interested or in a similar boat (or just curious about the home buying process in general) join the party, friends. Where do I start? Recently I got really curious about whether or not you could plan to buy a home in a buyer's market. What's a buyer's market? A buyer's market boils down to supply and demand. When there are more homes available on the market than homes that would typically sell in a specific time, you are in a buyer's market, yay you. When there's more supply than there is demand, prices are affected in downward pressure, whereas in a seller's market, a higher volume of people competing for a home will make prices rise. Inventory and prices over three month periods attribute to varying market conditions. This absorption rate is the rate that homes sell in certain neighbourhoods. To determine the absorption rate, divide the number of sales that occur in one month by the number of homes that are for sale. [In Alberta, where I live] If the absorption rate is 60% or higher we are experiencing a seller's market, whereas if the market is 40% or lower we are in a buyer's market. For insight, I asked Ron Roy. Yes, I know the coolest name ever. He is a Zolo Realtor and broker extraordinaire for Alberta and a few other provinces. This is what Ron looks like. Unfortunately, we live in different cities, so I had a chat with him over the phone, but he gave me a lot of great knowledge about whether or not me buying in 2020 was going to be me buying in a buyer's market. Ron Roy: There are far too many factors to make out. Alyssa Davies: So you don't have a crystal ball? Ron Roy: A lot of people will make predictions. Alyssa Davies: Your crystal ball isn't telling you that I can buy a house in 2020? Ron Roy: Crystal ball has been broken for years and I can't find the technician. Roy admitted that it is possible to wait for a buyers market if you have a few neighbourhoods in mind and you're not in any rush. However, he also said it would be impossible to know if the next buyers market in a particular neighbourhood will appear next month or next year. One of the things that Roy really did help me out with was letting me know which type of neighbourhoods would suit my budget, and one of those marketplaces is entry level. Entry level markets tend to be in buyer's market on a more consistent basis and more often when compared to older neighbourhoods that maybe have a little bit of a mystique about them. Those neighbourhoods tend to see prices escalate because of growing amenities. At the end of the day, it's up to the buyer's discretion to determine whether their plans will make the home buying process easier. And this rings even truer during a seller's market. Over the next 12 months I'll be preparing myself for the most significant financial decision I've ever made in my life. The goal for myself and my family is to put a down payment on our first home and you better believe I'm going to share every single stage of this process with you guys. House hunting, saving a down payment, finding a real estate agent, making an offer and more. Join me as I take the plunge in home ownership, after renting for 10 plus years. ------------------------- Follow us on social media & read more news Twitter:   / zolocanada   Facebook:   / zolocanada   Columns: https://www.zolo.ca/news -------------------------- Zolo is one of Canada’s most popular online national real estate marketplaces. Each month more than six million home shoppers start their real estate search using Zolo. These users get the data and resources needed to make better-informed property decisions. --- To learn more about the Canadian real estate market, subscribe to our channel to stay informed.